PCAOB Announces 43 Scholarship Program Recipients for the 2012-2013 Academic Year

Washington, D.C., June 15, 2012

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The Public Company Accounting Oversight Board today announced the colleges and universities that will participate in the PCAOB Scholarship Program for the upcoming academic year.

For the 2012-2013 academic year, the PCAOB plans to award 43 merit-based scholarships to students of $10,000 each. This is the Board's second year granting scholarships.

"I am pleased that this scholarship program allows the PCAOB and the academic community to work together to encourage the best and the brightest students to choose auditing as a career path," said PCAOB Chairman James R. Doty.

The Sarbanes-Oxley Act of 2002 provides that funds generated from the collection of monetary penalties imposed by the PCAOB are to be used to fund a merit scholarship program for students in accredited accounting degree programs. The PCAOB Scholarship Program was created to identify eligible students for scholarships and award funds through the students' educational institutions.

Students may be eligible for PCAOB scholarships if they are enrolled in an accounting degree program at an accredited participating, nominating institution. To qualify, students must do the following:

Be enrolled in a bachelor's or master's degree program in accounting

Demonstrate interest and aptitude in accounting and auditing

Demonstrate high ethical standards

Not be a PCAOB employee or a child or spouse of a PCAOB employee

The PCAOB scholarship program is merit-based but educational institutions are encouraged to give consideration to students from populations that have been historically underrepresented in the accounting profession.

A description of the PCAOB scholarship program, along with information on the nomination process, the selection of nominating institutions and other program details can be found on the PCAOB website.